Leafbuyer Technologies, Inc. (LBUY) (“Leafbuyer” or “the Company”) announced today it launched Phase One of its multiphase blockchain initiative on December 20, 2018. This first phase integrates with the Company’s loyalty platform, Leafbuyer Loyalty. This launch creates the bridge for cannabis consumers to eventually complete monetary transactions electronically with dispensaries and product companies.
Now, within the Leafbuyer Loyalty application, consumers can choose to create their own blockchain wallet, called the Leafbuyer Wallet. Immediately, when a consumer creates a Leafbuyer Wallet account at a participating dispensary, a link is sent through SMS to their mobile device. Through this link, the consumer can view their account, track all transaction history, and see their loyalty points. Leafbuyer Wallet consumers can visit their account at any time through their smartphone without needing to be onsite at a participating dispensary.
“This first step in our blockchain initiative lays the groundwork for Leafbuyer to utilize blockchain and cryptocurrencies in our business plans,” said Leafbuyer CTO Michael Goerner.
Blockchain allows for a digitized, decentralized, secure environment in which transactions are made and information is stored in a verifiable, permanent way. This leading, anti-fraud technology supports Leafbuyer’s initiative to provide transparency with its customers and consumers.
“The sky is the limit with blockchain,” said Leafbuyer CEO Kurt Rossner. “The technology will help shape the cannabis industry and open doors to new revenue possibilities for Leafbuyer. We want to offer the highest level of transparency with customers, and blockchain will help us accomplish this goal.”
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to several factors detailed from time to time in our filings with the Securities and Exchange Commission. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings.
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The Company’s online network reaches millions of marijuana consumers every month. Leafbuyer is the official cannabis deals platform of LA Weekly, Voice Media Group, Dope Media, Grasscity, and The Stranger.
Learn more at Leafbuyer.com.